Composition mechanisms for retrenchment

Retrenchment is a flexible model evolution formalism that arose as a reaction to the limitations imposed by refinement, and for which the proof obligations feature additional predicates for accommodating design data. Composition mechanisms for retrenchment are studied. Vertical, horizontal, dataflow, parallel and fusion compositions are described. Of particular note are the means by which the additional predicates compose. It is argued that all of the compositions introduced are associative, and that they are mutually coherent. Composition of retrenchment with refinement, so important for the smooth interworking of the two techniques, is discussed. Decomposition, allowing finer grained retrenchments to be extracted from a single large grained retrenchment, is also investigated

Unemployment and re-employment of displaced workers

Examines the incidence and adjustment experiences of workers who are displaced by economic change. Since the mid-1970s, the aggregate annual rate of retrenchment has fluctuated in a counter-cyclical pattern around a relatively stable long-term trend of about 5 per cent. The paper shows that the probability of retrenchment and the nature of post-retrenchment adjustment varies between different groups of workers and depends on general economic conditions.unemployment - re-employment - employment - displaced workers - labour - retrenchment - occupations - casual employment - job

A rush of blood to the head: Temporal dimensions of retrenchment, environment and turnaround performance

In this work we test the general assumption in the turnaround literature that time is critical for firm survival, especially during the retrenchment stage.We study three time dimensions of change at this stage: timing, speed and rhythm. Drawing on the downward spiral and threat-rigidity perspectives, we posit that the positive impact these time dimensions have on turnaround performance is highly contingent on two types of environment. Our findings, based on a sample of 263 declining US firms over a 26-year period (1983e2009), demonstrate that an early timing of retrenchment has a positive impact on performance when the environment is munificent. On the contrary, an early timing has a negative impact when the environment is dynamic. We also note that a fast pace of retrenchment positively impacts firm performance in dynamic environments. Finally, we find that declining firms display better performances when following an irregular rhythm of retrenchment, both in highly munificent and highly dynamic environments. Our results indicate that, in general, declining firm performance improves with time-aggressive retrenchment actions in both types of environment. We discuss the contribution of our research to the turnaround literature, and the downward spiral and threat-rigidity perspective

FLA Toolbox: Retrenchment

This document is part of a digital collection provided by the Martin P. Catherwood Library, ILR School, Cornell University, pertaining to the effects of globalization on the workplace worldwide. Special emphasis is placed on labor rights, working conditions, labor market changes, and union organizing.FLA_toolbox__RETRENCHMENT.pdf: 82 downloads, before Oct. 1, 2020

Dynamic aspects of retrenchments through temporal logic

Refinement is used as a way to verify an implementation with respect to a specification. States of related systems are linked through a so called gluing invariant which remains always true during the synchronous execution of both systems. Refinement is a sufficient condition for this property. Retrenchment is a generalization of refinement which relax the constraints between both systems. This paper proposes a temporal logic counterpart for some specific forms of retrenchment

The Retrenchment Hypothesis and the Extension of the Franchise in England and Wales

Does an extension of the voting franchise increase public spending or can it be a source of retrenchment? We study this question in the context of public spending on health-related urban amenities in a panel of 75 municipal boroughs in England and Wales in 1868, 1871 and 1886. We \u85nd evidence of a U-shaped relationship between spending on urban amenities and the extension of the local voting franchise. We argue that this retrenchment e¤ect arose because middle class taxpayers were unwilling to pay the cost of poor sanitation and the urban elites, elected on a narrow franchise, were instrumental for sanitary improvements. Our model of taxpayer democracy suggests that the retrenchment e¤ect is related to enfranchisement of the middle class through nation-wide reforms

Privatization and labor force restructuring around the world

Some critics of privatization argue that poor labor force restructuring is a key concern and that governments should establish better retrenchment programs. Using new data from a sample of 400 companies in the world, Chong and Lopez-de-Silanes test competing theories about the wisdom of retrenchment programs and theireffect on prices paid by buyers, and rehiring policies by private owners after privatization. The results show that adverse selection plagues retrenchment programs carried out by governments before privatization. Controlling for endogeneity, several labor retrenchment policies yield a negative impact on net privatization prices. In confirmation of the adverse selection argument, various types of voluntary downsizing lead to a higher frequency of rehiring of the same workers by the new private owners. Compulsory skill-based programs are the only type of program that is marginally associated with higher prices and lower rehiring rates after privatization, but the political and economic costs of this policy may make it somewhat impractical. While a qualified non-intervention policy appears to be the safest bet in labor retrenchment before privatization, another one might be to set up a social safety net or labor reallocation program before privatization, and then let the new private owners decide who is redundant and who is not. Setting up the program before privatization may help with the political viability of the process and letting the new owners manage the retrenchment may help avoid adverse selection.Environmental Economics&Policies,Banks&Banking Reform,Labor Policies,Municipal Financial Management,Financial Crisis Management&Restructuring,Banks&Banking Reform,Municipal Financial Management,Environmental Economics&Policies,Financial Crisis Management&Restructuring,Health Economics&Finance

Welfare State Regress in Western Europe: Politics, Institutions, Globalization and Europeanization

In interdisciplinary research on welfare state regress in Western Europe, interest has focused on the causes and extent of retrenchment. Causal debates have concerned the role of globalization, post-industrialism, European integration, and partisan politics. The "new politics" perspective views pressures towards retrenchment as basically generated by post-industrial changes causing government budget deficits and permanent austerity, developments pressing all governments to attempt to cut welfare state programs. These attempts are resisted by powerful interest groups consisting of welfare state benefit recipients, and therefore retrenchment is likely to be a limited phenomenon. Such recipient-based interest groups generated by welfare states are seen as largely replacing left parties and unions once driving welfare state expansion, thus marginalizing the role of class-related politics in the retrenchment process. Conclusions pointing to only limited retrenchment and a minor role for partisan politics have been criticized because of the non-theoretical definition of the welfare state and because of the concentration on social expenditures. The power resources approach, focusing on the role of distributive conflicts between major interest groups for welfare states development, widens the theoretical definition of the welfare state to include full employment as well as social transfers and expenditures. In Western Europe full employment was one of the cornerstones of the postwar "Keynesian welfare state," entailing a social contract which markedly differed from the one in the United States. The return of mass unemployment in Europe since the mid-1970s constitutes a major welfare state regress, and at the same time generates government budget deficits and austerity. Analyses based on citizenship rights in social insurance programs indicate major retrenchment in some West European countries, with political parties and welfare state institutions in significant roles. In this perspective the return of mass unemployment and cuts in social rights appear as a reworking of the European post-war social contract. The widening of the scope of welfare state indicates that trans-nationalization may have differing effect on its different aspects.welfare state retrenchment; globalization; European Union; partisan politics; unemployment.

Labor Retrenchment Laws and Their Effect on Wages and Employment: A Theoretical Investigation

Many countries have legislation which make it costly for firms to dismiss or retrench workers. In the case of India, the Industrial Disputes Act, 1947, requires firms that employ 50 or more workers to pay compensation to any worker who is to be retrenched. This paper builds a theoretical model to analyze the effects of such anti-retrenchment laws. Our model reveals that an anti-retrenchment law can cause wages and employment to rise or fall, depending on the parametric conditions prevailing in the market. We then use this simple model to isolate conditions under which an anti-retrenchment law raises wages and employment. In a subsequent section we assume that the law specifies exogenously the amount of compensation, s, a firm has to pay each worker who is being dismissed. It is then shown that as s rises, starting from zero, equilibrium wages fall. However beyond a certain point, further rises in s cause wages to rise. In other words, the relation between the exogenously specified cost to the firm of dismissing a worker and the equilibrium wage is V-shaped